Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stake Lifted by State Street Corp

State Street Corp lifted its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 24.9% during the third quarter, Holdings Channel.com reports. The fund owned 3,430,527 shares of the biopharmaceutical company’s stock after purchasing an additional 683,287 shares during the period. State Street Corp’s holdings in Akebia Therapeutics were worth $4,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its stake in Akebia Therapeutics by 40.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Akebia Therapeutics by 25.7% during the third quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 13,907 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Akebia Therapeutics by 205.8% during the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 31,137 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Akebia Therapeutics during the third quarter worth about $44,000. Finally, SG Americas Securities LLC raised its position in Akebia Therapeutics by 117.1% in the third quarter. SG Americas Securities LLC now owns 71,965 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 38,821 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Stock Up 1.0 %

Shares of NASDAQ AKBA opened at $1.95 on Monday. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $2.48. The company has a market cap of $425.45 million, a price-to-earnings ratio of -8.48 and a beta of 0.70. The business has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $1.49.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same period in the previous year, the company earned ($0.08) earnings per share. As a group, sell-side analysts expect that Akebia Therapeutics, Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AKBA has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, December 13th.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.